Lawgist168Resignation of director
(1) A director may resign from his office by giving a notice in writing to the company and the Board shall on receipt of such notice take note of the same and the company shall intimate the Registrar in such manner, within such time and in such form as may be prescribed and shall also place the fact of such resignation in the report of directors laid in the immediately following general meeting by the company:
Provided that a 1[director may also forward] a copy of his resignation along with detailed reasons for the resignation to the Registrar within thirty days of resignation in such manner as may be prescribed.
(2) The resignation of a director shall take effect from the date on which the notice is received by the company or the date, if any, specified by the director in the notice, whichever is later:
Provided that the director who has resigned shall be liable even after his resignation for the offences which occurred during his tenure.
(3) Where all the directors of a company resign from their offices, or vacate their offices under section 167, the promoter or, in his absence, the Central Government shall appoint the required number of directors who shall hold office till the directors are appointed by the company in general meeting.
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1. Subs. by s. 55, ibid., for "director shall also forward" (w.e.f. 7-5-2018).
- 149 Company to have Board of Director
- 150 Manner of selection of independent directors and maintenance of data bank of independent directors
- 151 Appointment of director elected by small shareholders
- 152 Appointment of director
- 153 Application for allotment of Director Identification Number
- 154 Allotment of Director Identification Number
- 155 Prohibition to obtain more than one Director Identification Number
- 156 Director to intimate Director Identification Numbe
- 157 Company to inform Director Identification Number to Registrar
- 158 Obligation to indicate Director Identification Number
- 159 Penalty for default of certain provision
- 160 Right of persons other than retiring directors to stand for directorship
- 161 Appointment of additional director, alternate director and nominee director
- 162 Appointment of directors to be voted individually
- 163 Option to adopt principle of proportional representation for appointment of directors
- 164 Disqualifications for appointment of director
- 165 Number of directorships
- 166 Duties of directors
- 167 Vacation of office of director
- 168 Resignation of director
- 169 Removal of director
- 170 Register of directors and key managerial personnel and their shareholding
- 171 Members‘ right to inspect
- 172 Punishment
